Look, even if you wanted to buy, some people can’t qualify and that will get rid of a group of people right there, you know, the ones that got houses w/the popsicle stand income that are now in foreclosure. Their fellow comrades are late to the party. Any young kid out of school lucky enough to get a job wouldn’t qualify to buy a condo, which are down everywhere, even the coast.
I can easily afford a house in many lesser attractive (to me) parts of San Diego. Why would I buy when I rent where I want to be for a fraction of what it would cost me to buy to live there.
sdr – you mention the wealthy that can afford (what percentag?) and yet I see places that are expensive that are languishing. The most desireable places will have demand, sure. Everything else is overpriced and will come down.
